Mayor of New York to set up city advice firm

NEW YORK’S outgoing mayor, Michael Bloomberg, is setting up a consultancy business to advise other cities on development.

Bloomberg, who will leave his mayoral post at the end of December after 12 years and three terms in charge, is taking a number of senior City Hall staff with him to launch the business, named Bloomberg Associates, according to the New York Times.

The operation will reportedly offer advice on the problems many mayors face, including subway systems, housing and public spaces.

The Republican mayor has been a vocal supporter of Wall Street during his tenure. He also garnered international attention for his ban on high-sugar soft drinks larger than 16 ounces – a law that has been challenged by the courts as unconstitutional. Bloomberg will be replaced in the mayor’s office by the Democrat Party’s Bill de Blasio.